Combine all ingredients, except the vanilla in a medium saucepan cook on medium heat while stirring constantly. Cook until bubbly, approximately 5-6 minutes. Sauce should be smooth and creamy, with no sugar granules left.

Remove from heat and stir in vanilla.

Let sit for at least 3-5 minutes, allowing it too cool and thicken.

Store covered in refrigerator for up to 1 week.